First Tracks Biotherapeutics, Inc.

NasdaqGS:TRAX Stock Report

Market Cap: US$579.2m

First Tracks Biotherapeutics Past Earnings Performance

Past criteria checks 0/6

First Tracks Biotherapeutics's earnings have been declining at an average annual rate of -3.1%, while the Biotechs industry saw earnings growing at 36.2% annually.

Key information

-3.09%

Earnings growth rate

n/a

EPS growth rate

Biotechs Industry Growth17.04%
Revenue growth raten/a
Return on equity-65.79%
Net Marginn/a
Last Earnings Update31 Mar 2026

Recent past performance updates

No updates

Recent updates

Seeking Alpha May 06

First Tracks: Huge Cash Reserves Will Not Sustain Testing For Long

Summary First Tracks Biotherapeutics, spun off from AnaptysBio, launches with $180M cash and a diverse, early-stage pipeline. I rate TRAX as a Hold due to post-spin instability, near-term dilution risk, and a multi-year path to revenue. ANB033 targets celiac disease, with no current FDA-approved therapies; pivotal trial data are expected in Q4 2026–2027, with commercialization likely a decade away. Rosnilimab showed strong Phase 2b RA results but faces entrenched competition and is reliant on a single indication for success. Read the full article on Seeking Alpha

Revenue & Expenses Breakdown

How First Tracks Biotherapeutics makes and spends money. Based on latest reported earnings, on an LTM basis.


Earnings and Revenue History

NasdaqGS:TRAX Revenue, expenses and earnings (USD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 260-16948-8
31 Dec 250-166390
31 Dec 240-164290

Quality Earnings: TRAX is currently unprofitable.

Growing Profit Margin: TRAX is currently unprofitable.


Free Cash Flow vs Earnings Analysis


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if TRAX's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Unable to compare TRAX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: TRAX is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (54.5%).


Return on Equity

High ROE: TRAX has a negative Return on Equity (-65.79%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/08 11:46
End of Day Share Price 2026/06/08 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

First Tracks Biotherapeutics, Inc. is covered by 8 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Etzer DaroutBarclays
Emily BodnarH.C. Wainwright & Co.
Anupam RamaJ.P. Morgan